Frequently asked questions about the program

Budget

The total cost for the Gustavson MBA program is approximately $32,000 for domestic students and $34,000 for international (visa) students. This estimate includes tuition, program fees, athletic and recreation fees, graduate student society fees, university bus pass, extended health and dental insurance, co-op fees, and the international integrated management exercise fees.

MBA students can live on or off-campus. For more information on costs and how to find accommodation, refer to the UVic Housing. Or if you are an international student, see Housing for International degree students.

Financial assistance

All accepted students are automatically considered for any scholarships awarded through the Gustavson School of Business. Scholarships are awarded to the top 10–15% of the incoming class based on prior academic performance. The awards range from $500–$10,000 CDN. Students do not need to apply for these Entrance Awards.

National and provincial student loans are available for those that qualify. Student loan criteria differ from province to province. Incoming students should inquire with their local student loan office.

International students are eligible for certain scholarships and research assistant positions (if your Study Permit allows) but they must not expect it. All international students must assume no aid, and be prepared to pay for all fees and costs associated with taking the MBA program.

Work experience prior to joining the MBA Program is required. We prefer three or more years of full-time experience in a professional or management capacity. You must demonstrate managerial potential and a level of maturity consistent with the demands of a professional management program.

We do not set a minimum acceptable score for the GMAT; however, we prefer scores to be at least 550. We prefer students to score at least 40th percentile in both the verbal and quantitative sections of the test. To calculate your equivalent GRE score, you can use the GRE Comparison Table for Business Schools.

Graduates of Canadian universities must have a "B" average in the last two full-time years of their undergraduate degree. Applicants with degrees from any country other than Canada must have earned the equivalent of a "B" average over the last two years of their degree to be considered admissible. For a list of the international equivalents, please refer to the Faculty of Graduate Studies information on minimum requirements from other countries.

If you do not have a "B" average, you may be considered for admission as a mature student. To qualify as a mature student, you must have at least four years of relevant full-time work experience after graduating from your bachelor's degree.

All aspects of your application are important; however, the admissions committee places the most weight on previous professional experience, undergraduate grades, and your GMAT score. Your references support your application by providing us with independent assessments of your academic or work experience, while your essays provide you with the opportunity to highlight your strengths and suitability to our MBA program.

No, the references may be prior or current instructors, supervisors or employers. In most cases, at least one reference will be professional. The second one can be an academic or a professional, depending on what is most appropriate to your situation.

Yes. Most of the students entering the program were not business graduates. Those who join our program without any prior knowledge in a given area (accounting, for example) may have to work harder in the first few weeks of the course, but after that prior knowledge tends to be insignificant. In general, because of the diversity of our students, most students will find that they have an initial advantage in some courses and an initial disadvantage in others.

The application deadline for international applicants is April 30. We will continue to review applications from domestic students (including permanent residents) until May 31.

We recommend that international students submit their application as early as possible to allow sufficient time to obtain a Government of Canada Study Permit (and Temporary Resident Visa if necessary) if they are selected.

Your application for admission cannot be processed until your application fee is received. You will be prompted to pay this fee by credit card or by INTERAC as part of the online application process. Cash will not be accepted.

Application fees for graduate students:

$114.50 CAD - all transcripts arriving from institutions within Canada

Co-op/Internships

﻿If you have less than three years of full-time work experience after your undergraduate degree, you are required to complete at least one paid Co-op internship term. If you have three or more years of full-time work experience after your undergraduate degree, a Co-op work term is optional, but highly recommended by the majority of MBA alumni.

﻿All students pursuing a Co-op work term are responsible for applying to, interviewing for, and ultimately securing their work opportunity. However, the Co-op & Career department presents more than 1000 business opportunities for students to apply to every summer, and students receive in-depth training, coaching and practice on how to discover additional opportunities through online job banks, business connections and even by starting their own company. When a student discovers an employment opportunity, it must first be discussed with the MBA co-op coordinator before they are approved as official co-op work terms..